Bitcoin News Update: The Cryptocurrency Market's Ongoing Struggle: Careful Hopefulness Against Persistent Threats
- Crypto market shows stabilization as funding rates on major exchanges return to neutrality after overselling, per Coinglass data. - Bitcoin's 14-day RSI dipped below 30 (oversold level) on Nov 18, suggesting potential short-term rebound despite analysts' caution. - Institutional interest grows with Ark Invest adding $10.2M in Bullish shares, while Hyperliquid (HYPE) shows on-chain resilience. - Macroeconomic risks persist, including U.S. government shutdown impacts and stalled ETF inflows, keeping $95,00
Recent data shows that the cryptocurrency market is showing signs of steadying, as funding rates on both centralized and decentralized exchanges are returning to neutral territory after a period of heavy selling. On November 18, Coinglass
This change reflects broader shifts in market sentiment.
Some niche crypto assets are also showing positive trends. Hyperliquid (HYPE), a decentralized exchange, has demonstrated strength despite the broader market’s weakness, with blockchain data showing increased open interest and accumulation by large holders. Coinglass
Nevertheless, broader economic uncertainties remain. The resolution of the U.S. government shutdown sparked another wave of selling, reminiscent of 2019, highlighting the crypto sector’s vulnerability to global developments. Open interest and leverage have dropped significantly as traders become more cautious. However, some metrics indicate that bearish momentum may be fading. Bitcoin’s RSI has leveled off near oversold territory, and the MACD histogram is beginning to converge, both
The current mix of signals in the market underscores a balance between cautious optimism and ongoing risks. While
As the market consolidates and participants look for decisive signals, the wider crypto landscape is showing resilience. The stabilization of Bitcoin’s RSI and the normalization of funding rates may indicate a pause in downward pressure, though the threat of renewed selling remains. In this environment, traders are expected to pay close attention to price trends and on-chain metrics for guidance.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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